MECL signs MoU with state govt agency to assess Goa's mineral potential
20 July 2021
Mineral Exploration Corporation Limited (MECL), a major mineral exploration agency under the ministry of mines, has entered into a memorandum of understanding (MoU) with the Directorate of Mines & Geology (DMG), government of Goa, offering integrated mineral exploration and consultancy services.
With the signing of the MoU, MECL will assess mineral resources by conducting an array of geo-scientific explorations and will finalise the mineral blocks to be auctioned and establish the state’s mineral inventory.
The recent amendments to the MMDR Amendment Act 2021, Mineral (Auction) Second Amendment Rules, 2021 and Minerals (Evidence of Mineral Contents) Amendment Rules will further pave the way for states to fast track the auction process of their mineral acreages, thus making role of DMG, pivotal in the process of assessment and allocation of Goa’s mineral acreages.
Goa is bestowed with large deposits of iron ore (1,456 million tonnes) as well as significant quantities of other major minerals like bauxite (55 million tonnes) and manganese ore (34 million tonnes). Iron ore mining in the state hugely contributes to income and employment in the state. Goa also has an intrinsic logistic environment for export of minerals due to availability of ports near the mining site.